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Volume 7, Issue 1.5

S. 2155, The Economic Growth, Regulatory Reform and Consumer Protection Act, "will help to push back against a regulatory climate that treats the biggest banks the same as community credit unions, and allow credit unions to do what they do best: serve their communities,” wrote MnCUN President & CEO, in a letter to the editor that appeared in the Pioneer Press last week.

“In an age of hyperbole, blanket statements and overwhelmingly partisan rhetoric, this bill is a welcome, cooperative and nuanced approach to regulatory reform that will bring real, tangible benefits,” Cummins continued.

Cummins asked Sen. Amy Klobuchar for her support because "Senators around the country from both parties have already put differences aside to introduce this bill and make a strong statement that it’s time to get rid of the rigged system that threatens families and puts credit unions and small banks out business." The bill has many benefits for credit unions, including:

Make the process of getting a mortgage loan from a credit union easier, making home ownership a more achievable goal for 1.7 million Minnesota credit union members.

Make common-sense adjustments to thresholds, freeing up resources while holding Wall Street accountable to federal regulators.

Change the designation to certain types of real estate loans, which will free up capital and allow local credit unions to lend out to small businesses. This brings much-needed support to Main Street Minnesota.

Follow the links on the stories below to read more about the outstanding programs, new initiatives and well-deserved recognition received by your peers recently. Got news of your own? Send stories, pitches, press releases and published articles to MnCUN Director of Communications Laura Whittet.

Registration is open for the Minnesota Credit Union Foundation Scholarship Council’s 2nd Annual Dice & Ice indoor event. Compete with a team in a variety of dice games including Life Size 6-5-4, Dice Bags and Horse Races to help raise $20,000 for scholarships for credit union members.

The FSC, a committee of the Minnesota Credit Union Foundation, works to enhance the future of the credit union movement by providing financial awareness solutions through its annual scholarship program. Since 1997, the FSC has reviewed 14,905 applications and awarded $176,500 in scholarships to 315 credit union members. The FSC scholarship application is currently open through Feb. 1.

The FSC Dice & Ice event will be held on Friday, Jan. 26, from 11:30 a.m. to 4 p.m. at Vannelli’s by the Lake in Forest Lake. During the event, teams will compete in a variety of dice games. With questions, contact Bridget Petersen by email or by phone at 651-641-2256.